LONDON (Reuters) - The euro and the dollar gained against the yen on Monday after the G20 decided not to criticize Japan for its expansionary policies, but Europe's weak growth outlook and the approach of Italian elections capped the moves.

Financial leaders from the world's 20 biggest economies promised in their final statement after a weekend meeting not to devalue their currencies to boost exports, in a bid to defuse talk of currency wars among major nations.

The euro gained 0.15 percent to 125.20 yen, edging up toward a 34-month high of 127.71 yen hit earlier this month, while the dollar rose 0.5 percent to 93.99 yen, closer to its highest since May 2010 of 94.46 hit on February 11.

"Future yen direction will continue to be driven by domestic monetary policy from the Bank of Japan and improving international investor confidence, which are both driving the yen weaker," said Lee Hardman, currency analyst at Bank of Tokyo-Mitsubishi UFJ.

With the G20 meeting over, the focus in European markets is switching to the release of euro area Purchasing Managers' Indexes for February and German sentiment indices due later in the week, and the upcoming general elections in Italy.

Analysts expect the euro area flash PMI indices, which point to economic activity around six months out, to show growth stabilizing rather than a clear end to the current recession across the region.

The FTSEurofirst 300 index of top European shares opened down 0.1 percent at 1,159.87 points, with Germany's DAX , the UK's FTSE and France's CAC-40 flat to slightly weaker.

Earlier, the effect of the G20 statement and further announcements from Japan's Prime Minister Shinzo Abe indicating a renewed drive to stimulate the economy lifted the Nikkei stock index by 2.1 percent, near to its highest level since September 2008.

Meanwhile U.S. stock futures were barely changed and are expected to stay little changed as Wall Street will be closed on Monday for the Presidents' Day holiday.

In the commodity markets, copper fell 0.7 percent to $8,150 a tonne as traders played catch up after a week-long holiday in China last week, with worries about the euro zone economy weighing on sentiment.

U.S. crude fell 34 cents to $95.50 a barrel but Brent inched up six cents $117.70.

Gold rebounded by 0.3 percent from a six-month low to be $1,614 an ounce as jewelers in China returned to the physical market after the Lunar New Year holiday.

WASHINGTON (Reuters) – Thousands of protesters gathered on the Washington’s National Mall on Sunday calling on President Barack Obama to reject the controversial Keystone XL oil pipeline proposal and honor his inaugural pledge to act on climate change.

Organizers of the “Forward on Climate” event estimated that 35,000 people from 30 states turned out in cold, blustery conditions for what they said was the biggest climate rally in U.S. history. Police did not verify the crowd size.

Protesters also marched around the nearby White House, chanting “Keystone pipeline? Shut it down.” Among the celebrities on hand were actresses Rosario Dawson and Evangeline Lilly, and hedge fund manager and environmentalist Tom Steyer.

The event came days after a bipartisan group of U.S. senators made the latest call for Obama to approve the $ 5.3 billion pipeline, seen by many as an engine for job growth and another step toward energy independence.

A new poll by Harris Interactive showed 69 percent of respondents said they support construction of the pipeline, with only 17 percent saying they oppose it.

One of Sunday’s main organizers, climate activist Bill McKibben, said that approving the pipeline, which would transport crude oil from the oil sands of northern Alberta to refineries and ports in Texas, would be akin to lighting a “carbon bomb” that could cause irreparable harm to the climate.

“For 25 years our government has basically ignored the climate crisis: now people in large numbers are finally demanding they get to work,” said McKibben, founder of the environmental group 350.org.

Other major organizing groups on Sunday included the Sierra Club and the Hip-Hop Caucus.

The proposed TransCanada Corp project has been pending for 4-1/2 years. A revised route through Nebraska, which would avoid crossing sensitive ecological zones and aquifers, was approved by that state’s governor last month.

Backers of Keystone, which would transport 830,000 barrels of oil per day, say it would provide thousands of jobs in the United States and increase North American energy security.

Environmentalists oppose the pipeline because the oil sands extraction process is carbon intensive, and say the oil extracted is dirtier than traditional crude oil.

Van Jones, Obama’s former green jobs adviser, said if the president approved the pipeline just weeks after pledging to act on climate change, it would overshadow other actions Obama takes to reduce pollution.

“There is nothing else you can do if you let that pipeline go through. It doesn’t matter what you do on smog rules and automobile rules – you’ve already given the whole game way,” said Jones, who is president of Rebuild the Dream, a non-government organization.

Democratic Senator Sheldon Whitehouse of Rhode Island, the lone member of Congress to speak at the rally, told Reuters Obama risked creating a “credibility gap” if he approved the pipeline.

“He would have to roll out a very complete and very strong package to offset something that on its own is described by government scientist as ‘game-over’ on climate,” he said.

Still, some of Obama’s core constituents favor the pipeline, including the labor union AFL-CIO’s building and construction unit, which sees the potential for job creation for its members, and certain Democratic lawmakers.

In January, nine Democratic senators joined 44 Republicans in urging the president to approve Keystone XL.

NEW YORK (Reuters) - Stocks could struggle to extend their seven-week winning streak as the quarterly earnings period draws to a close and the market bumps into strong technical resistance.

Many analysts say the market could spend the next few weeks consolidating gains that have lifted the benchmark Standard & Poor's 500 by 6.6 percent since the start of the year.

The S&P 500 ended up 0.1 percent for the week, recovering from a late sell-off on Friday after a Bloomberg report about slow February sales at Wal-Mart triggered a slide in the retailer's shares. It was the index's seventh week of gains.

Odds of a pullback are increasing, with the market in slightly overbought territory, said Bruce Zaro, chief technical strategist at Delta Global Asset Management in Boston.

"I do suspect the closing of the earnings season will lead to at least a pause and possibly a pullback," Zaro said. The S&P 500 could shave 3 to 5 percent between now and early April, he said.

Fourth-quarter earnings have mostly beaten expectations. Year-over-year profit growth for S&P 500 companies is now estimated at 5.6 percent, up from a January 1 forecast for 2.9 percent growth, and 70 percent of companies are exceeding analyst profit expectations, above the 62 percent long-term average, according to Thomson Reuters data.

On Thursday, Wal-Mart, the world's largest retailer, is due to report results, unofficially closing out the earnings period. Investors will be keen to see its quarterly numbers, especially after the Friday's news report that rattled investors.

The S&P 500 has gained 4.3 percent since Alcoa kicked off the earnings season on January 8.

Manufacturing output fell 0.4 percent last month, the Federal Reserve said on Friday, but production in November and December was much stronger than previously thought.

TESTING RESISTANCE

The S&P 500 has been trading near five-year highs, and it notched its highest level since November 2007 this week. But the gains have pushed the benchmark index almost as far as it is likely to go in the near term, with strong resistance hovering around 1,525 and 1,540, one analyst said.

As a result, the index is set to move sideways, said Dave Chojnacki, market technician at Street One Financial in Huntington Valley, Pennsylvania. "We just don't have the volume or the catalyst right now" to go above those levels, he said.

At the same time, other analysts say, the market has not shown significant signs of slowing, including a break below 15- and 30-day moving averages.

Such moves would be needed to show that momentum is slowing or that the market is at risk of a correction, said Todd Salamone, director of research for Schaeffer's Investment Research in Cincinnati, Ohio. The S&P 500's 14-day moving average is at 1,511 while the 30-day is at 1,494. The index closed Friday at 1,519.

Recent M&A activity, including news this week of a merger between American Airlines and US Airways Group , helped provide some strength for the market this week and optimism that more deals may be on the way.

In the coming days, the market will focus on minutes from the latest Federal Reserve meeting, due to be released on Wednesday, which could provide support if they suggest the Fed will remain on its current course of aggressive monetary easing.

The Fed minutes released in January spooked markets a bit when they revealed that some Fed officials thought it would be appropriate to consider ending asset purchases later in 2013. U.S. Treasury yields rose on that news, though market worries about a near-term end to quantitative easing have since faded.

Among other companies expected to report earnings next week are Nordstrom , Hewlett-Packard and Marriott International

The meteor that exploded over Russia Friday was slightly larger than previously thought and more powerful, too, NASA scientists say.

The Russian meteor explosion over the city of Chelyabinsk, on Friday (Feb. 15), injured more than 1,000 people and blew out windows across the region in a massive blast captured on cameras by frightened witnesses. Friday afternoon, NASA scientists estimated the meteor was space rock about 50 feet (15 meters) and sparked a blast equivalent of a 300-kiloton explosion. The energy estimate was later increased to 470 kilotons.

But late Friday, NASA revised its estimates on the size and power of the devastating meteor explosion. The meteor’s size is now thought to be slightly larger — about 55 feet (17 m) wide — with the power of the blast estimate of about 500 kilotons, 30 kilotons higher than before, NASA officials said in a statement. [See video of the intense meteor explosion]

The meteor was also substantially more massive than thought as well. Initial estimated pegged the space rock’s mass at about 7,000 tons. Scientists at NASA’s Jet Propulsion Laboratory in Pasadena, Calif., now say the meteor weighed about 10,000 tons and was travelling 40,000 mph (64,373 km/h) when it exploded.

“These new estimates were generated using new data that had been collected by five additional infrasound stations located around the world – the first recording of the event being in Alaska, over 6,500 kilometers away from Chelyabinsk,” JPL officials explained in the statement. The infrasound stations detect low-frequency sound waves that accompany exploding meteors, known as bolides.

The meteor entered Earth’s atmosphere and blew apart over Chelyabinsk at 10:20 p.m. EST on Feb. 14 (03:20:26 GMT on Feb. 15). The meteor briefly outshined the sun during the event, which occurred just hours before a larger space rock — the 150-foot-wide (45 meters) asteroid 2012 DA14 — zoomed by Earth in an extremely close flyby.

Asteroid 2012 DA14 approached within 17,200 miles (27,000 kilometers) of Earth Friday, but never posed an impact threat to the planet. The asteroid flyby and Russian meteor explosion had significantly different trajectories, showing that they were completely unrelated events, NASA officials said.

Late Friday, another fireball was spotted over the San Francisco Bay Area in California. That event, also unrelated, occurred at about 7:45 p.m. PST (10:45 p.m. EST/0345 Feb. 16 GMT) and lit up the nighttime sky. Aside from the unexpected light show, the fireball over San Francisco had little other effect.

NASA scientists said the Russian meteor event, however, is a rare occurrence. Not since 1908, when a space rock exploded over Russia’s Tunguska River in Siberia and flattened 825 square miles (2,137 square km) of uninhabited forest land, has a meteor event been so devastating.

“We would expect an event of this magnitude to occur once every 100 years on average,” Paul Chodas of NASA’s Near-Earth Object Program Office at JPL said. “When you have a fireball of this size we would expect a large number of meteorites to reach the surface and in this case there were probably some large ones.”

According to the Associated Press, search teams have recovered small objects that might be meteorite fragments and divers are searching the bottom of a lake where a meteorite is thought to have landed.

MOSCOW (Reuters) - The Group of 20 nations declared on Saturday there would be no 'currency war' and deferred plans to set new debt-cutting targets in an indication of concern about the fragile state of the world economy.

Japan's expansive policies, which have driven down the yen, escaped criticism in a statement agreed in Moscow by financial policymakers from the G20, which groups developed and emerging markets and accounts for 90 percent of the world economy.

After late-night talks, finance ministers and central bankers agreed on wording closer than expected to a joint statement issued last Tuesday by the Group of Seven rich nations backing market-determined exchange rates.

A draft communique seen by delegates on Friday had steered clear of the G7's call for fiscal and monetary policy not to be targeted at exchange rates but the final version included a G20 commitment to refrain from competitive devaluations and stated monetary policy would be directed at price stability and growth.

"The language has been strengthened since our discussions last night," Canadian Finance Minister Jim Flaherty told reporters. "It's stronger than it was, but it was quite clear last night that everyone around the table wants to avoid any sort of currency disputes."

The communique, seen by Reuters ahead of publication, did not single out Japan for aggressive monetary and fiscal policies that have seen the yen drop 20 percent.

The statement reflected a substantial, but not complete, endorsement of Tuesday's statement by the G7 nations - the United States, Japan, Britain, Canada, France, Germany and Italy.

"We all agreed on the fact that we refuse to enter any currency war," French Finance Minister Pierre Moscovici told reporters.

NO FISCAL TARGETS

The text also contained a commitment to credible medium-term fiscal strategy, but stopped short of setting specific goals.

A debt-cutting pact struck in Toronto in 2010 will expire this year if leaders fail to agree to extend it at a G20 summit of leaders in St Petersburg in September.

The United States, which has resorted to massive monetary stimulus and higher government borrowing to drive growth and cut jobless queues, blocked a push from Europe to commit to reducing budget deficits.

"We expect by April countries will have made progress on reaching a balanced approach to establishing new budget indicators on both, deficit and the level of government debt," Siluanov said.

Russia, this year's chair of the G20, also expressed concern about ultra-loose policies that it and other big emerging economies say could store up trouble for later.

Siluanov said a rebalancing of global growth required more than an adjustment of exchange rates.

"Structural reforms in all countries, either with a positive or negative balance of payments, should play a bigger role," he said, adding that spillover effects of unconventional monetary policy, conducted by central banks in some countries, should be closely monitored.

The G20 put together a huge financial backstop to halt a market meltdown in 2009 but has failed to reach those heights since. At successive meetings, Germany has pressed the United States and others to do more to tackle their debts. Washington in turn has urged Berlin to do more to increase demand.

"The G7 made a very clear statement this week. I think you'll see the G20 echo what was said, and say that currencies should not be used as a tool of competitive devaluation," Britain's finance minister, George Osborne, said in Moscow.

"Countries shouldn't make the mistake of the past of using currencies as a tool of economic warfare."

TRENTON, NJ (CBS) — Gov. Christie announced on Friday that the U.S. government has granted a Natural Disaster Designation for 14 New Jersey counties following Superstorm Sandy, a snowstorm, a Nor’easter, a drought and other extreme weather between June 28 and Nov. 8, 2012.

For counties to be designated as primary natural disaster areas, they must have sustained a 30 percent or greater production loss to a single crop due to the disaster. Nine counties were designated primary areas, while Mercer, Monmouth, Morris, Passaic and Warren counties were included as contiguous counties, still making them eligible to receive help from the U.S. Department of Agriculture’s (USDA) Farm Service Agency (FSA).

Farmers should contact their local FSA office for details. To find a local office, visit: http://offices.sc.egov.usda.gov/locator/app?state=nj&agency=fsa

For more information on FSA’s disaster assistance programs, visit: www.fsa.usda.gov/FSA/webapp?area=home&subject=diap&topic=landing

LONDON (Reuters) - The yen firmed on Friday as investors braced for the likelihood of more conflicting comments on currencies from the G20 meeting, while a revival in worries about global economic growth weighed on shares and commodities.

The G20 forum in Moscow is in the spotlight as officials are expected to discuss whether the ultra loose monetary polices of the United States, Japan, Britain and the euro zone depart from the group's commitment to market-driven exchange rates.

The dollar shed 0.5 percent to 92.46 yen, dropping as far as a one-week low of 92.25 yen while the euro fell to a two-week low of 123.10 yen.

The Japanese currency gained some support when a Russian official said drafting the final communique from the G20 meeting was proving difficult, but the text would not single out Japan for criticism.

"There is an issue of 'who started the fire?' You can say that Japan has getting really aggressive but then they might say, well what have Americans done, what about the British and so on," said William De Vijlder, chief investment officer at BNP Paribas Investment Partners.

The yen was also underpinned by expectations that Japanese Prime Minister Shinzo Abe is close to selecting his nominee for Bank of Japan governor. A decision could come in the next few days, sources close to the process told Reuters [ID:nL4N0BF1LS]

Shares were broadly flat with the pan-European FTSEurofirst 300 index little changed at 1,163.34 points following dismal gross domestic product data from across the euro zone on Thursday.

The surprisingly sharp contraction in the region's economy during the final three months of 2012 has undermined hopes of an early recovery from recession, but also boosted talk that the European Central Bank may have to ease policy further.

MOSCOW (AP) — A meteor streaked across the sky above Russia’s Ural Mountains on Friday morning, causing sharp explosions and injuring more than 400 people, many of them hurt by broken glass.

“There was panic. People had no idea what was happening. Everyone was going around to people’s houses to check if they were OK,” said Sergey Hametov, a resident of Chelyabinsk, about 1500 kilometers (930 miles) east of Moscow, the biggest city in the affected region.

“We saw a big burst of light then went outside to see what it was and we heard a really loud thundering sound,” he told The Associated Press by telephone.

Fragments of the meteor fell in a thinly populated area of the Chelyabinsk region, the Emergency Ministry said in a statement.

Interior Ministry spokesman Vadim Kolesnikov said more than 400 people had sought medical treatment after the blasts, and at least three had been hospitalized in serious condition. Many of the injuries were from glass broken by the explosions.

Kolsenikov also said about 600 square meters (6000 square feet) of a roof at a zinc factory had collapsed.

Reports conflicted on what exactly happened in the clear skies. A spokeswoman for the Emergency Ministry, Irina Rossius, told The Associated Press that there was a meteor shower, but another ministry spokeswoman, Elena Smirnikh, was quoted by the Interfax news agency as saying it was a single meteor.

Amateur video broadcast on Russian television showed an object speeding across the sky about 9:20 a.m. local time (0320 GMT), leaving a thick white contrail and an intense flash.

Russian news reports noted that the meteor hit less than a day before the asteroid 2012 DA14 is to make the closest recorded pass of an asteroid — about 17,150 miles (28,000 kilometers). There was no immediate demonstrable connection.

Small pieces of space debris — usually parts of comets or asteroids — that are on a collision course with the Earth are called meteoroids. When meteoroids enter the Earth’s atmosphere they are called meteors. Most meteors burn up in the atmosphere, but if they survive the frictional heating and strike the surface of the Earth they are called meteorites.

—

Max Seddon Moscow contributed to this story.

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TOKYO (Reuters) - Asian shares rose on improving risk sentiment while the yen steadied ahead of the weekend meeting of G20 finance and central bank officials, whose views on global growth and differences over currencies will be scrutinized by investors.

"Asian markets have extended gains with risk sentiment remaining resilient as markets continue to push to new highs. Ahead of the European open, we are calling the major bourses relatively flat with GDP numbers in focus," Stan Shamu, market strategist at IG Markets, said in a note.

The MSCI's broadest index of Asia-Pacific shares outside Japan extended gains, rising 0.6 percent as its materials sector outperformed with a 1.6 percent increase partly on a jump in shares of top miners ahead of earnings news from Rio Tinto .

Australian shares rose 0.7 percent to their highest since September 2008, as a strong earnings season and receding fears about European and U.S. debt woes bolstered investor sentiment.

South Korean shares were flat after Wednesday's three-week closing high and biggest daily percentage gain since January 2 when investors cheered a pause in the yen's decline.

Market reaction was muted after monetary policy decisions from South Korea and Japan during Thursday's sessions.

The Bank of Korea held interest rates steady for a fourth straight month as expected, as global economies show signs of improvement and domestic inflation remains low. But the decision was not unanimous, its governor told a news conference.

The Bank of Japan also kept monetary policy steady and upgraded its economic assessment, as recent falls in the yen and signs of a pick-up in global growth give it some breathing space after expanding stimulus just a month ago.

A pause in the yen's rebound positively affected Japanese equities on Thursday, with the Nikkei average advancing 0.7 percent after Wednesday's 1 percent slump when the firming yen prompted investors to take profits on exporters.

"Usually the BOJ doing nothing causes a bit of disappointment, but since there are concerns about the flak Japan might get at the G20 this weekend for the weakening yen, standing pat will actually be a relief to the market," said Masayuki Doshida, senior market analyst at Rakuten Securities.

Markets in China and Taiwan remain shut for the Lunar New Year holiday but Hong Kong resumed trading on Thursday.

YEN IN SPOTLIGHT

The dollar recouped earlier losses to inch up 0.1 percent to 93.49 yen after marking its highest level since May 2010 of 94.465 on Monday. The euro steadied at 125.60 yen, below its peak since April 2010 of 127.71 yen touched last week.

The yen lost nearly 20 percent against the dollar between November and early February, and more than 20 percent against the euro.

The yen began its steady fall in mid-November as expectations built for a new government to take aggressive steps to bring Japan out of years of slump. Prime Minister Shinzo Abe is pushing for strong reflationary steps, pressuring the BOJ to take unprecedented expansionary measures.

The yen's rapid depreciation, after years of sharp appreciation, has drawn some criticism from overseas, with rhetoric heating up ahead of the Group of 20 nations meeting on Friday and Saturday in Moscow.

Russian Deputy Finance Minister Sergei Storchak told reporters on Wednesday in Moscow that the yen was "definitely overvalued" and that "there are no signs" that Japan's monetary authorities were intervening on the foreign exchanges.

Yuji Saito, director of foreign exchange at Credit Agricole in Tokyo, said various interpretations this week over what the G20 may say about Japan's policy and a weak yen trend "have been used as an excuse to adjust positions ahead of the meeting, and I expect forex to be in ranges."

"Currency will be discussed but I think Russia wants the meeting to focus on broader economic issues involving emerging markets as it is the G20 gathering," he said.

Traders and analysts say 90-95 yen to the dollar appeared to be a comfortable range for now, unless upside surprises emerge in the U.S. economy or Japan quickly implements unexpectedly drastic reflationary policies, both of which will swing the dollar higher above the range.

They said the yen's upside was also capped around 87 yen, halfway between its slump from mid-November to early February.

Market reaction was muted to comments from Jack Lew, President Barack Obama's pick to run the Treasury Department, who on Wednesday said he would support a strong U.S. dollar, in line with longstanding U.S. policy.

Data published on Thursday showed Japan's economy shrank 0.1 percent in October-December from the previous quarter, falling for a third straight quarter.

U.S. crude was up 0.1 percent to $97.13 a barrel and Brent added 0.1 percent to $117.98.

Solar power, for good reason, has a lot of fans. “It’s hip, it’s cool, it’s trendy…and it’s green,” according to the Australian solar company Energy Matters. And it’s certainly true that producing solar power is far cleaner than fossil fuels which are one of the main causes of pollution and global warming.

But like every good hero, the solar industry has its kryptonite. In this case, it’s the hazardous waste that’s created by the production of solar panels.

ABC News recently reported that while government incentives have been a boon to the solar industry, the millions of panels being manufactured are also producing millions of pounds of polluted sludge and contaminated water. “In many cases, a toxic sludge is created when metals and other toxins are removed from water used in the manufacturing process. If a company doesn’t have its own treatment equipment, then it will send contaminated water to be stored at an approved dump.”

Putting aside the idea of transporting a lot of toxic sludge from one place to another—most plants don’t have on-site treatment equipment—a number of scientists have pointed out that the transport of solar waste isn’t being factored into the product’s carbon footprint score, which measures the amount of greenhouse gases produced during a product’s manufacturing.

Dustin Mulvaney, an assistant professor of environmental studies at San José State University, told TakePart that he’s been doing life cycle analyses and carbon footprints of energy technologies since he was a postdoctoral scholar at the University of California, Berkeley, after which he started a sustainability consulting firm, EcoShift. “My particular interest in solar came through work with the Silicon Valley Toxics Coalition,” he said.

“Approximating the greenhouse gas emissions associated with any product requires gathering information about direct energy use, embodied energy—the energy it takes to make some of the key inputs and infrastructure—and the carbon intensity of the various energy inputs,” said Mulvaney. “Coal, for example, has a higher carbon intensity than natural gas.”

Asked if knowing more about the hazardous waste created by the solar industry might influence consumers even though solar power is still a cleaner option than fossil fuels, Mulvaney said, “Solar power is an order of magnitude cleaner than coal and fracked natural gas.”

And, “If consumers know more about the hazardous waste emissions associated with solar manufacturing, there could be pressure on companies to reduce their emissions or seek onsite treatment options where opportunities exist. More efficient use of chemicals ultimately could reduce the carbon footprint of solar as well as reduce manufacturing costs, which is the primary obstacle to more widespread photovoltaics adoption.”

SolarPowerIsTheFuture.com states that, “The sun is the world’s largest power plant. It provides more energy to the earth in one hour than that produced by all nations in a year.”

We just need to make sure that the journey from the sun to a solar-powered home remains as clean as possible.

Are you surprised to hear about the hazardous waste and carbon footprint created by solar panel production?

Related Stories on TakePart:

• Sandy Dumps Raw Sewage, Diesel Fuel Into Local Waterways

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Lawrence Karol is a writer and editor who lives with his dog, Mike. He is a former Gourmet staffer and enjoys writing about design, food, travel and lots of other stuff. @WriteEditDream | Email Lawrence | TakePart.com

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LONDON (Reuters) - The yen rose against the dollar and the euro on Wednesday as investors reconsidered a G7 statement on exchange rates aimed at soothing concerns of a currency war but instead provoked a fresh bout of volatility.

The G7 reaffirmed its commitment to market-determined exchange rates and said that fiscal and monetary policies must not be directed at devaluing currencies in its statement which was interpreted as condoning the recent weakness in the yen.

However, an official from the group later said Tuesday's statement was meant to signal concerns about excessive yen moves, prompting a vicious reversal in the currency.

"It appears there is a lack of consensus at the G7 level in tackling the unintended weakening of currencies, due to the adoption of expansionary domestic monetary policies," analysts at Barclays said in a note clients.

In early European trading the dollar and the euro had both fallen by 0.3 percent against the yen to 93.20 yen and 125.42 yen respectively.

At the center of the debate is Japan, where Prime Minister Shinzo Abe's government has made it clear that it will push for aggressive policies to beat deflation through drastic monetary expansion. Anticipation of a bolder Bank of Japan policy has sent the yen down nearly 20 percent against the dollar since November.

Dealers said the market was likely to trade cautiously ahead of the outcome of a Bank of Japan meeting ending on Thursday and before a meeting of the Group of 20 finance ministers and central bankers in Moscow on Friday and Saturday.

Markets are also awaiting the Bank of England's quarterly inflation report which should show whether there's any realistic chance of further asset purchases in coming months which would add to pressure on sterling.

The euro zone will publish industrial production data for December at 1000 GMT, seen as likely to confirm that output in final quarter was very weak.

The data comes out a day ahead of flash estimates of fourth quarter GDP for the whole euro area which is forecast to show growth contracted by around 0.4 percent in the final three months of the year - the steepest quarter-on-quarter decline since the first quarter of 2009.

Ahead of the data Europe's share markets were little changed with the FTSE Eurofirst 300 index of top companies opening flat but near the top of a six-day trading range, with the focus on corporate earnings reports.

Debt markets were also little changed as investors await the results of an auction of long-term Italian debt which is seen as a test of demand before elections later this month.

Italian debt has been under pressure in recent weeks as a comeback in the opinion polls by former Prime Minister Silvio Berlusconi's party has raised the prospect of a fragmented parliament that could hamper the next government's reform efforts.

SYDNEY (Reuters) – The theft of a fully-grown emu from an Australian wildlife park this week has left only a pile of feathers at the scene of the crime, and questions about the motive for snatching an ungainly bird with practically no cash value.

Operating under cover of darkness, robbers are believed to have lifted the flightless bird – second only to the ostrich in size and known for its speed, powerful legs and clawed feet – over electrified barbed wire atop a two-meter fence, eluding a guard and a security camera.

Police evidence suggests a getaway vehicle was parked about 1 km (0.6 miles) away near a train line adjacent to the park, said Chad Staples, senior curator at Featherdale Wildlife Park in Doonside, west of Sydney.

“It would have had to be carried the whole way and lifted over the fences twice,” he said. A grown emu can be as much as 2 meters (6.6 feet) tall and weigh roughly 37 kg, or a little more than an adult Labrador dog.

All that remained in the enclosure was a heap of feathers. A second emu was also in the area, but it escaped the thieves with minor feather loss.

Staples said he was mystified by the theft, the first of its kind.

“Emus don’t really have a monetary value because of how common they are,” said Staples. “It (the theft) was extremely targeted and it seems fairly well executed.”

The last break-in at the park was on Christmas Day in 2012, when 10 macaw parrots were stolen but recovered shortly after.

“We are hoping the same thing will happen with the emu,” Staples said.

TOKYO (Reuters) - The yen hovered near its lows against the dollar and Tokyo stocks jumped closer to a 33-month high on Tuesday after markets took comments from a U.S. official as approval for Japan to pursue anti-deflation policies that weaken the yen.

U.S. Treasury Undersecretary Lael Brainard said on Monday the United States supports Japanese efforts to end deflation, but she noted that the G7 has long been committed to exchange rates determined by market forces, "except in rare circumstances where excess volatility or disorderly movements might warrant cooperation.

"Her (Brainard's) comments gave confidence to the market. It was surprising, and was taken as the Obama administration giving a green light to 'Abenomics'," said Takuya Takahashi, a market analyst at Daiwa Securities.

Japan has faced some overseas criticism that it is intentionally trying to weaken the yen with monetary easing, but talk of a so-called currency war was dialled back ahead of a Group of 20 meeting in Moscow on Friday and Saturday.

G20 officials said on Monday the Group of Seven nations are considering a statement this week reaffirming their commitment to "market-determined" exchange rates.

European Central Bank council member Jens Weidmann also said the euro was not overvalued at current levels.

The dollar slipped 0.3 percent to 94.185 yen after marking its highest level since May 2010 of 94.465 on Monday. The euro eased 0.3 percent to 126.12 yen after rising more than 2 percent on Monday. It hit its highest since April 2010 of 127.71 yen last week.

"I think the yen's weakening is a function of (playing)catch-up," and not Japan resorting to deliberate devaluation of its currency, said Andrew Wilkinson, chief economic strategist at Miller Tabak & Co. in New York. "It's the market's way of saying: 'We're convinced there is a movement afoot to reinflate Japan.'"

The yen is pressured by anticipation that Prime Minister Shinzo Abe will endorse a far more dovish Bank of Japan regime when the current leadership's term ends next month, although the BOJ is expected to refrain from taking fresh easing steps when it meets this week.

Share trading was subdued with many regional bourses shut for holidays. Encouraging trade data from China late last week was lending support to sentiment but non-Japan markets lacked momentum as investors awaited key events such as the U.S. president's State of the Union address for trading cues.

European markets are seen inching lower, with the Euro STOXX 50 index futures down 0.1 percent. A 0.2 percent drop in U.S. stock futures also suggested a soft Wall Street start.

The weaker yen in turn hoisted the Nikkei stock average to close 1.9 percent higher on improving earnings prospects for exporters.

Trading resumed in Japan and South Korea but markets in Singapore, Hong Kong, mainland China, Malaysia and Taiwan remained closed.

STATE OF UNION ADDRESS

Currency and equities markets were also looking ahead to President Barack Obama's State of the Union address later on Tuesday night, for any signs of a deal to avert automatic spending cuts due to take effect March 1.

"We believe that the G20's take on currency wars, Mr. Obama's upcoming state of the union address, and data on the current condition of the U.S. economy should help markets assess where the global recovery stands and where we are heading," Barclays Capital said in a research report.

U.S. and Chinese data last week lifted the tech-focused Nasdaq Composite Index to a 12-year closing high and the Standard & Poor's 500 Index to a five-year peak on Friday.

Financial markets showed a muted reaction to the news that North Korea has conducted a nuclear test.

"The test was not something that makes your heart pound as much as a pressing situation between Iran and Israel," said Kaname Gokon, research manager at brokerage Okato Shoji, referring to the threat of possible military action to prevent Iran from developing nuclear weapons.

U.S. crude futures edged down 0.1 percent to $96.90 a barrel while Brent steadied around $118.

NASA‘s latest Earth-observation satellite is set to blast off today (Feb. 11), continuing a venerable program that has been monitoring environmental change and resource use for more than four decades.

TheLandsat Data Continuity Mission is scheduled to launch today at 1:02 p.m. EST (1802 GMT/10:02 a.m. PST) atop an Atlas 5 rocket from Vandenberg Air Force Base in California. The LDCM spacecraft will track changes in forest cover, agricultural output and urban sprawl, among other things, adding to a Earth-observation record that has been growing continuously since Landsat 1 lifted off in July 1972.

“LDCM will be the bestLandsat spacecraft yet, in terms of improved capabilities and the amount of data returned,” mission program executive David Jarrett, of NASA headquarters in Washington, D.C., told reporters Friday (Feb. 8) in a prelaunch press briefing. “LDCM will continue the Landsat legacy well into the future.”

The $ 855 million LDCM spacecraft is the eighth satellite in the history of the Landsat program, which is jointly run by NASA and the U.S. Geological Survey. USGS will take over operation of the craft after launch and some on-orbit checkouts, at which point it will be renamed Landsat 8. [Photos: The Next Landsat Earth-Observing Spacecraft]

Landsat 8 will double the number of functional Landsat spacecraft, joining Landsat 7, which launched in April 1999. (Landsat 5 recently retired after scrutinizing Earth’s surface for nearly 29 years.)

The SUV-size Landsat 8 will zip around Earth at an altitude of 438 miles (705 kilometers), staring down from a polar orbit with two sensitive instruments. The Operational Land Imager (OLI) will collect data in visible, near infrared and shortwave infrared wavelengths, while the Thermal Infrared Sensor (TIRS) will measure surface temperatures.

By tracking forest destruction, water use, urban expansion, glacial retreat and other fast-accelerating phenomena, Landsat 8 will help scientists and policymakers better understand how Earth’s seven billion people are affecting the planet, researchers said.

“All of these changes are currently occurring at rates unprecedented in human history, due to an increasing population, advancing technology and climate change,” said mission project scientist Jim Irons, of NASA’s Goddard Space Flight Center in Greenbelt, Md. “We will be able to monitor these changes — to continue to observe these changes — from LDCM, from the best Landsat satellite ever launched.”

Landsat 7 has enough fuel to stay in an operational orbit through 2016, Irons said. The Landsat 8 spacecraft and the OLI instrument have design lives of five years, and the TIRS sensor was built to last at least three years, he added. The satellite has enough fuel to stay in its desired orbit for at least a decade.

“We hope that the spacecraft and the instruments will last well beyond their design lives, and we can continue to collect data for at least 10 years,” Irons said.

SAN FRANCISCO (Reuters) - When Square Chief Operating Officer Keith Rabois left his job last month, citing legal threats from a young colleague with whom he had a two-year relationship, he threw a spotlight on the risks associated with the freewheeling startup culture that many entrepreneurs cherish.

Startups often thrive on a lack of rules and boundaries. But experts say that as they make the transition from a handful of people in a room to sizeable businesses, the hazards of operating without manual - including lawsuits, reputational hits, and waning employee morale - grow exponentially.

Longtime employees sometimes chafe at the arrival of human resources professionals, codes of conduct and other policies that they fear will step on the company's culture. Yet entrepreneurs and start-up investors say they ultimately have little choice.

Take Facebook Inc, which displayed murals of naked women, some riding dogs, in the Palo Alto offices it leased as a small company in 2005. As proud as some of the early employees were of them — one was painted by the then-girlfriend of Facebook impresario and serial entrepreneur Sean Parker — they got painted over shortly after venture-capital firm Accel Partners invested in the company. Facebook had no immediate comment.

About a year into the life of online-ad tracking startup DoubleVerify, an employee gave a presentation about how advertising fraud takes place. Many in the room got a rude awakening when a slide popped up showing an example of an ad where it shouldn't be: next to a particularly raunchy image on a pornography site.

"That was the first time we realized, ‘We gotta get a little more institutionalized," recalls founder Oren Netzer. Today, the company has policies concerning naked images. The same presentation would use a less controversial example, or obscure anything racy.

Alcohol is another dicey topic. "We used to have these new employee hazing ceremonies," said Dheeraj Pandey, chief executive of virtualization company Nutanix, largely involving knocking back tequila shots with chili peppers. But once the company hit about 100 employees, some new hires pushed back and he started considering the potential for liability.

"It just faded away about four, five months ago," he said about the hazing. Potential concerns run the gamut from some employees feeling excluded if they don't drink to incidents that sometimes accompany drunken behavior.

At 250-person social-media management company Hootsuite, "I somewhat infamously have said I never wanted to work at a company with an HR department," says founder Ryan Holmes.

"That's coming back to bite me a little bit now."

MISSION STATEMENTS, HR FLUFF

A year ago, Holmes made his executive assistant the director of human resources. That type of promote-from-within strategy for HR is commonplace, startups say.

A few months into her role, the new HR director told Holmes the company needed a mission statement. "I said, ‘Oh my God, this is HR fluff,'" Holmes remembers. But shortly afterward, when he overheard new hires discussing beliefs he thought were out of step with Hootsuite's ethos — he says he cannot recall the details — he realized she was right.

But Holmes says he is resisting conforming on other levels. Hootsuite employees attend teambuilding trips, including a recent stay at a hot-springs resort. That is the type of event big companies cut out — Google Inc halted its famous all-employee trips in 2009 - often because of the potential for various kinds of legal liability and cost.

Holmes says he might have to rethink his overnight trips if the company ever goes public, but for now, he plans to keep going. "We think it's very valuable," he says.

At Nutanix, Pandey decided last summer's annual whitewater rafting trip on the Sacramento River would be the last. "We used to go through some rough rapids, and had a couple of close shaves," he said. "A couple of the guys aren't good swimmers."

Part of the philosophy is that young companies want to encourage a "think different" attitude, employees say.

"Start-ups by design want to differentiate themselves from the large companies like the HPs that have very thick employee handbooks," said Brian Samson, chief executive of HR for Startups, referring to computer company Hewlett Packard Co.

Start-ups often deal with the inevitable by aiming for a careful, light-footed approach to new policies.

"I've tried to make sure we don't talk about rules," says Evan Wittenberg, HR head at cloud-content firm Box. "The language around this really matters. These are guidelines."

Still, there are tensions as the company, which now employs around 700 and is considered a likely prospect for a 2013 initial public offering, grows. Cecilia Wong, people manager at Box, cites the daylong orientation process for new employees.

"I've had some managers ask, ‘Why's it a full day? On my first day, it was just an hour, then I could hit the ground running,'" she says. She believes the full day is important for explaining the company culture, business and logistics issues.

The consequences of neglecting HR policy and other big-company practices can be dire.

Rabois said he resigned from his post after an ex-boyfriend that he recommended for a job at Square threatened to sue for sexual harassment. A Square spokesman declined to say what kind of HR policies, if any, the company has in place, and he declined to comment on any issue related to the relationship that led to Rabois' resignation. Square had about 30 employees when Rabois joined and now has about 400.

Many large organizations - not just companies, but nonprofits and government agencies - have firm policies about intra-office romances, and often prohibit them if one party has any kind of supervisory authority over the other.

"You can be open to liability if the relationship goes sour, and you have a person in a position of power over the other person," said San Francisco employment attorney Therese Lawless. "Any actions of that person in power can be deemed to be retaliatory."

In addition, it can create a morale issue if other employees believe the more junior employee in an ongoing relationship is receiving favorable treatment, she said.

NEW YORK (Reuters) - The Nasdaq composite stock index closed at a 12-year high and the S&P 500 index at a five-year high, boosted by gains in technology shares and stronger overseas trade figures.

The S&P 500 also posted a sixth straight week of gains for the first time since August.

The technology sector led the day's gains, with the S&P 500 technology index up 1.0 percent. Gains in professional network platform LinkedIn Corp and AOL Inc after they reported quarterly results helped the sector.

Shares of LinkedIn jumped 21.3 percent to $150.48 after the social networking site announced strong quarterly profits and gave a bullish forecast for the year.

Data showed Chinese exports grew more than expected, a positive sign for the global economy. The U.S. trade deficit narrowed in December, suggesting the U.S. economy likely grew in the fourth quarter instead of contracting slightly as originally reported by the U.S. government.

"That may have sent a ray of optimism," said Fred Dickson, chief market strategist at D.A. Davidson & Co in Lake Oswego, Oregon.

Trading volume on Friday was below average for the week as a blizzard swept into the northeastern United States.

The U.S. stock market has posted strong gains since the start of the year, with the S&P 500 up 6.4 percent since December 31. The advance has slowed in recent days, with fourth-quarter earnings winding down and few incentives to continue the rally on the horizon.

"I think we're in the middle of a trading range and I'd put plus or minus 5.0 percent around it. Fundamental factors are best described as neutral," Dickson said.

The Dow Jones industrial average ended up 48.92 points, or 0.35 percent, at 13,992.97. The Standard & Poor's 500 Index was up 8.54 points, or 0.57 percent, at 1,517.93. The Nasdaq Composite Index was up 28.74 points, or 0.91 percent, at 3,193.87, its highest closing level since November 2000.

For the week, the Dow was down 0.1 percent, the S&P 500 was up 0.3 percent and the Nasdaq up 0.5 percent.

Shares of Dell closed at $13.63, up 0.7 percent, after briefly trading above a buyout offering price of $13.65 during the session.

Dell's largest independent shareholder, Southeastern Asset Management, said it plans to oppose the buyout of the personal computer maker, setting up a battle for founder Michael Dell.

Signs of economic strength overseas buoyed sentiment on Wall Street. Chinese exports grew more than expected in January, while imports climbed 28.8 percent, highlighting robust domestic demand. German data showed a 2012 surplus that was the nation's second highest in more than 60 years, an indication of the underlying strength of Europe's biggest economy.

Separately, U.S. economic data showed the trade deficit shrank in December to $38.5 billion, its narrowest in nearly three years, indicating the economy did much better in the fourth quarter than initially estimated.

Earnings have mostly come in stronger than expected since the start of the reporting period. Fourth-quarter earnings for S&P 500 companies now are estimated up 5.2 percent versus a year ago, according to Thomson Reuters data. That contrasts with a 1.9 percent growth forecast at the start of the earnings season.

Molina Healthcare Inc surged 10.4 percent to $31.88 as the biggest boost to the index after posting fourth-quarter earnings.

"I'm watching the 14 level closely" on the CBOE Volatility index, said Bryan Sapp, senior trading analyst at Schaeffer's Investment Research. "The break below it at the beginning of the year signaled the sharp rally in January, and a rally back above it could be a sign to exercise some caution."

Volume was roughly 5.6 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.

Advancers outpaced decliners on the NYSE by nearly 2 to 1 and on the Nasdaq by almost 5 to 3.

An astronaut on the International Space Station beamed festive messages to Earth Saturday (Feb. 9) to mark Chinese New Year celebrations across the planet.

Canadian astronaut Chris Hadfield, a space station flight engineer, sent good wishes and amazing photos of China via online Twitter messages to celebrate the Chinese Year of the Snake, which began Sunday, Feb. 10.

“Happy Chinese New Year! May it be filled with joy and success,” Hadfield wrote. “To celebrate, we sent a Progress spaceship to burn like fireworks in the sky.”

That unmanned Russian Progress 48 spacecraft undocked from the space station early Saturday to clear a parking spot for a new robotic cargo ship, Progress 50, due to arrive at the station on Monday (Feb. 11).

Hadfield then posted a series of dazzling photos of China from space, including a view of daybreak over Taiwan, a striking image of Shanghai at night, amazing windswept clouds and a view of the city of Hangzhou.

“Hangzhou, China. As one of the few space-faring nations, I salute China, her astronauts, and their accomplishments,” Hadfield wrote.

In 2003, China became the third country (after Russia and the United States) to achieve human spaceflight with the successful launch of its first astronaut, Yang Liwei, aboard the country’s Shenzhou spacecraft. The country subsequently took bolder steps into space, with two-person and three-person spaceflights, a spacewalk and the launch of the Tiangong 1 space laboratory module.

In 2012, China launched its first crew to the Tiangong 1 space module, a three-person team that included the country’s first female astronaut, Liu Yang.

In 2013, China is expected to launch another crewed mission to the Tiangong 1 space lab (the Shenzhou 10 mission), as well as the Chang’e 3 moon mission, which is expected to send a lander to the lunar surface.

Hadfield is one of six astronauts currently living aboard the International Space Station. In addition to the Canadian, the station’s Expedition 34 crew includes three Russian cosmonauts and two American astronauts.

You can follow SPACE.com Managing Editor Tariq Malik on Twitter@tariqjmalik.Follow SPACE.com on Twitter @Spacedotcom. We’re also on Facebook & Google+.

Copyright 2013 SPACE.com, a TechMediaNetwork company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Space and Astronomy News Headlines – Yahoo! News

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NEW YORK (Reuters) - The Nasdaq composite stock index closed at a 12-year high and the S&P 500 index at a five-year high, boosted by gains in technology shares and stronger overseas trade figures.

The S&P 500 also posted a sixth straight week of gains for the first time since August.

The technology sector led the day's gains, with the S&P 500 technology index up 1.0 percent. Gains in professional network platform LinkedIn Corp and AOL Inc after they reported quarterly results helped the sector.

Shares of LinkedIn jumped 21.3 percent to $150.48 after the social networking site announced strong quarterly profits and gave a bullish forecast for the year.

Data showed Chinese exports grew more than expected, a positive sign for the global economy. The U.S. trade deficit narrowed in December, suggesting the U.S. economy likely grew in the fourth quarter instead of contracting slightly as originally reported by the U.S. government.

"That may have sent a ray of optimism," said Fred Dickson, chief market strategist at D.A. Davidson & Co in Lake Oswego, Oregon.

Trading volume on Friday was below average for the week as a blizzard swept into the northeastern United States.

The U.S. stock market has posted strong gains since the start of the year, with the S&P 500 up 6.4 percent since December 31. The advance has slowed in recent days, with fourth-quarter earnings winding down and few incentives to continue the rally on the horizon.

"I think we're in the middle of a trading range and I'd put plus or minus 5.0 percent around it. Fundamental factors are best described as neutral," Dickson said.

The Dow Jones industrial average ended up 48.92 points, or 0.35 percent, at 13,992.97. The Standard & Poor's 500 Index was up 8.54 points, or 0.57 percent, at 1,517.93. The Nasdaq Composite Index was up 28.74 points, or 0.91 percent, at 3,193.87, its highest closing level since November 2000.

For the week, the Dow was down 0.1 percent, the S&P 500 was up 0.3 percent and the Nasdaq up 0.5 percent.

Shares of Dell closed at $13.63, up 0.7 percent, after briefly trading above a buyout offering price of $13.65 during the session.

Dell's largest independent shareholder, Southeastern Asset Management, said it plans to oppose the buyout of the personal computer maker, setting up a battle for founder Michael Dell.

Signs of economic strength overseas buoyed sentiment on Wall Street. Chinese exports grew more than expected in January, while imports climbed 28.8 percent, highlighting robust domestic demand. German data showed a 2012 surplus that was the nation's second highest in more than 60 years, an indication of the underlying strength of Europe's biggest economy.

Separately, U.S. economic data showed the trade deficit shrank in December to $38.5 billion, its narrowest in nearly three years, indicating the economy did much better in the fourth quarter than initially estimated.

Earnings have mostly come in stronger than expected since the start of the reporting period. Fourth-quarter earnings for S&P 500 companies now are estimated up 5.2 percent versus a year ago, according to Thomson Reuters data. That contrasts with a 1.9 percent growth forecast at the start of the earnings season.

Molina Healthcare Inc surged 10.4 percent to $31.88 as the biggest boost to the index after posting fourth-quarter earnings.

"I'm watching the 14 level closely" on the CBOE Volatility index, said Bryan Sapp, senior trading analyst at Schaeffer's Investment Research. "The break below it at the beginning of the year signaled the sharp rally in January, and a rally back above it could be a sign to exercise some caution."

Volume was roughly 5.6 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.

Advancers outpaced decliners on the NYSE by nearly 2 to 1 and on the Nasdaq by almost 5 to 3.